SC, USM collaborate to cultivate fintech talents

KUALA LUMPUR: The Securities Commission Malaysia (SC), in collaboration with the Computer Science Society of Universiti Sains Malaysia (USM), held the Varsity Hackathon (VHACK 2024) as a platform to cultivate the next generation of fintech talents.

VHACK, held on April 20, 2024, is the inaugural event of the SC’s FIKRA ACE - Excel, a capacity-building initiative to support the development of Islamic fintech by building skillsets and talent by partnering higher learning institutions, a statement said today.

The regulator had, in 2021, launched the fintech initiative FIKRA to enhance the Islamic capital market ecosystem and FIKRA ACE is the enhanced, three-year initiative.

SC chairman Datuk Seri Dr Awang Adek Hussin said in the statement that VHACK 2024 showcases the innovative spirit of Malaysian undergraduates.

"This can be a call to action for stakeholders across academia, industry and government to collaborate, innovate and propel Malaysia towards becoming a global leader in Islamic fintech,” he said.

Focusing on solving curated Sustainable Development Goals related to real-life issues, the programme received over 900 applications from 90 higher learning institutions around the world.

In the final pitching day held at USM in Penang, 10 teams from multiple public and private universities were crowned winners, bringing home a total of RM37,500 in cash prizes.

SC continues to spearhead fintech initiatives through its SCxSC initiative to support the growth of the capital market and ensure Malaysia remains competitive.

As a follow-up to the recent SCxSC "Views from the Top: Digital Leaders' Dialogue on Emerging Techs”, the regulator will engage with key industry stakeholders on May 3 to deliberate policy implications of asset tokenisation, the institutional integration of digital assets, and the role of decentralised finance (DeFi) within the capital market. - Bernama

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